Due to the increasing demand for supply chain efficiency and environmental sustainability, there has been a rapid increase in the use of returnable transport items (RTI) in recent years. Examples of these reusable containers include pallets, kegs, liquid drums, totes and shipping containers. Globally, the loss and inefficient use of these assets have cost industries billions of dollars per year.
iLogic has created and developed custom software solutions for managing reusable assets for over three decades. In late 2013, iLogic launched masLogic, a flexible and scalable cloud based returnable assets management software platform. masLogic leverages the internet, GPS, Radio-frequency identification, cloud based technologies as well as best practices amongst industries. Its empowers users with a set of tools to visualize, track, manage, and optimize their asset investments. iLogic saw great potential for a high adoption rate of masLogic being used by hundreds of companies in a multitude of industries including Fortune 500 corporations, industry container pools, postal services, breweries, container brokerage/manufacturing firms, transport companies, etc. masLogic enables these organizations to realize millions of dollars in annual savings as well as benefit from the vast improvement in the logistics efficiency of their supply chains.
Some of this success can be attributed to the Altitude Accelerator, who helped guide the transition of the company from an IT service company into a software product company. “The direction, knowledge and assistance we received from Altitude Accelerator’s seminars and one-on-one meetings were invaluable to us.” said Steve Bondarewski, Director Business Development at iLogic Inc.
With the growth of the company’s demand, iLogic is currently looking to add on additional sales and technical people. The addition would help to continue building a strong team foundation and assist in upgrading their current product. In addition, Victor Cheng Pres/CEO, is looking to expand into Europe and Asia and establish this Canadian company as a key global player in this unique and rapidly emerging class of software.